1. Businesses identify customer needs and produce goods and services to satisfy those needs and make a profit. They require resources like land, labor, capital, and enterprise.
2. Entrepreneurs take on the risk of starting new businesses. They must overcome challenges like securing financing, finding customers, and facing competition. Common reasons for business failure include poor management, lack of capital, and changing business environments.
3. A successful business adds value by transforming raw materials into desirable goods and services. This benefits the overall economy by creating jobs, economic growth, innovation, and exports.
Organisation chart is very important for company. This will leads to clear communication between employer and employee. For more resources relate to this slides, check out website: www.mybusinessstudies.com for some worksheets to this topic.
This revision presentation considers the variety of stakeholders impacted by business activity. How will a change in objectives, such as a move from profit maximisation to revenue maximisation have an effect on different stakeholders?ā
Organisation chart is very important for company. This will leads to clear communication between employer and employee. For more resources relate to this slides, check out website: www.mybusinessstudies.com for some worksheets to this topic.
This revision presentation considers the variety of stakeholders impacted by business activity. How will a change in objectives, such as a move from profit maximisation to revenue maximisation have an effect on different stakeholders?ā
What is Negotiation?
Features of Negotiation
Why Negotiate ?
Types of Negotiation
Distributive Vs Integrative Negotiation
Negotiation Process
BATNA
Bargaining Zone Model of Negotiation
Negotiating Behavior
Issues in Negotiation
Third party Negotiations
How to achieve an Effective Negotiation
Negotiation Tips
Entrepreneurship skills are needed by everyone. This was a presentation made for some selected district associations in North Western Province of Zambia to equip them with useful entrepreneurial skills
Entrepreneurship has traditionally been defined as the process of designing, launching and running a new business, which typically begins as a small business, such as a startup company, offering a product, process or service for sale or hire, and the people who do so are called 'entrepreneurs'.
Greater Phoenix SCORE presentation on what you need to do when you are starting your own business. What entrepreneurs need to know about small business start-ups.
This presentation is suitable for CIE A-Levels' students and teachers who are looking for additional references to teach, learn, study, and make revision. I hope you find it useful.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
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Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
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What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
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Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
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2. THE NATURE OF BUSINESS ACTIVITY
PURPOSE OF BUSINESS ACTIVITY
ā¢ An organisation that uses resources to meet the needs of
customers by providing a product or service that is in
demand.
ā¢ There are several stages in the production of finished goods
involving adding value to resources, such as raw materials
and semi finished goods, and making them more desirable
the buyer.
3. WHAT A BUSINESS NEEDS TO SUCCEED
A business
needs
Land
Raw
materials
Site for
building
Capital
Finance
Factories/off
ices
machines
Customers
Suppliers
LabourSkilled
UnskilledTemporary
permane
nt
Enterprise
Risk takers
Decision
makers
coordinators
government
Roads/rails/air
port
Law and order
Schools/colleg
es
6. WHAT DO BUSINESSES DO?
ā¢ They identify needs
ā¢ They purchase factors of production, produce those
goods in order to satisfy the needs of consumers and
make a profit.
7. WHAT DO BUSINESSES NEED TO PRODUCE
GOODS AND SERVICES?
ā¢ Land- includes land, renewable and non-renewable
resources such as coal, crude oil and timber.
ā¢ labour- manual and skilled labour.
ā¢ Capital- finance, man-made resources such as computers,
machines, factories, offices and vehicles.
ā¢ Enterprise- driving force, combining the factors of
production into a driving force, it provides a managing,
decision-making and coordination role.
8. THE CONCEPT OF ADDING VALUE
(ADDED VALUE)
ā¢ Value is added to raw materials it uses to produce goods and
services.
ā¢ It is a key objective in a business.
ā¢ Consumers who pay the price that is more than raw
materials used to produce the goods has been successful in
adding value
9. ROLE OF THE ENTREPRENEUR
ā¢ Someone who takes the financial risk of starting and managing a new
venture
ā¢ Entrepreneurs have:
ā¢ An idea for a new business
ā¢ Invested some of their own savings and capital
ā¢ Accepted the responsibility of managing the business
ā¢ Accepted the possible risks of failure
10. CHARACTERISTICS OF SUCCESSFUL
ENTREPRENEURS
ā¢ Innovation
ā¢ Commitment and self-motivation
ā¢ Multi-skilled
ā¢ Leadership skills
ā¢ Self-confidence and an ability to ābounce backā
ā¢ Risk taking
11. MAJOR CHALLENGES FACED BY
ENTREPRENEURS
ā¢ Identifying successful business opportunities
ā¢ Sourcing capital (finance)
ā¢ Determining a location
ā¢ Competition
ā¢ Building a customer base
12. IDENTIFYING SUCCESSFUL BUSINESS
OPPORTUNITIES
Ideas for new businesses come from:
ā¢ Own skills or hobbies
ā¢ Previous employment experience
ā¢ Franchising conferences and exhibitions
ā¢ Small-budget market research
13. SOURCING CAPITAL (FINANCE)
ā¢ After an idea has been decided on, an entrepreneur has to raise the necessary
capital.
Why is obtaining finance such a major problem for entrepreneurs?
ā¢ Lack of sufficient own finance
ā¢ Lack of awareness of the financial support and grants available
ā¢ Lack of trading record to present to banks as evidence of past business success
ā¢ A poorly produced business plan that fails to convince potential investors of
the chance of a businessās success
14. DETERMINING A LOCATION
ā¢ When choosing a location, you must minimise fixed costs
Drawbacks:
ā¢ It may not be close to the area with the biggest market potential
ā¢ It lacks status - a business with its own prestigious premises tends to
generate confidence
ā¢ It may cause family tensions
ā¢ It may be difficult to separate private life from working life
15. COMPETITION
ā¢ New businesses experience competition from older
established businesses
ā¢ Entrepreneurs have to offer better customer services to
overcome the cost and pricing advantages that bigger
businesses offer.
16. BUILDING A CUSTOMER BASE
ā¢ Long term strength of a business depends on the customers who
return to purchase goods.
Small business try to offer a better service than larger businesses such
as:
ā¢ Personal customer service
ā¢ Knowledgeable pre- and after ā sales services
ā¢ Providing for one-off customer requests that larger firms may be
reluctant to provide for.
17. WHY DO BUSINESSES OFTEN FAIL
Lack of record keeping
Lack of working capital
Poor management skills
Changes in the business environment
18. LACK OF RECORD KEEPING
ā¢ Some entrepreneurs fail to pay sufficient attention
to this as they believe it is less important than
meeting the needs of customersā.
ā¢ Some businesses keep records on computers and it is
important to keep them on paper too.
19. LACK OF WORKING CAPITAL
Capital is needed for day-to-day business affairs. Capital deficiencies
can be avoided if certain steps can be taken when establishing a
business:
ā¢ Construct a cash flow forecast so that liquidity and working capital
needs of the business can be assessed monthly.
ā¢ Inject sufficient capital into the business at start-up to last for a few
months of business.
ā¢ Establish good relations with the bank so that short term problem can
be overcome with an overdraft extension.
ā¢ Use effective credit control over customersā accounts
20. POOR MANAGEMENT SKILLS
Some entrepreneurs have work experience, not always at management level, they
may not have gained experience of:
ā¢ Leadership skills
ā¢ Cash handling and cash management skills
ā¢ Planning and coordinating skills
ā¢ Decision-making skills
ā¢ Communication skills
ā¢ Marketing, promotion and selling skills
Potential entrepreneurs are encouraged to attend training courses to gain some of
these skills.
21. CHANGES IN THE BUSINESS ENVIRONMENT
Businesses may fail if any of the following changes occur:
ā¢ New competitors
ā¢ Legal changes
ā¢ Economic changes that leave customers with much less
money to spend
ā¢ Technological changes that make the methods used by the
new business, old-fashioned and expensive
22. COMMON TYPES OF ENTREPRENEURIAL
BUSINESSES
ā¢ Primary sector
ā¢ Fishing
ā¢ Market gardening
ā¢ Secondary sector
ā¢ Jewellery making
ā¢ Dress making
ā¢ Tertiary/service sector
ā¢ Hairdressing
ā¢ Car repairs
23. IMPACT OF ENTERPRISE ON A COUNTRYāS
ECONOMY
What are the claimed benefits to the economy of business enterprise?
ā¢ Employment creation
ā¢ Economic growth- an increase in the output of goods/services will increase the gross domestic
product of a country.
ā¢ Firmsā survival and growth
ā¢ Innovation and technological change- new businesses tend to be innovative and this adds
dynamism to an economy.
ā¢ Exports- expanding to the export market will increase the value of a nationās exports and improve
its international competitiveness.
ā¢ Personal development- can encourage others to follow and lead to further successful enterprises
that will further boost the economy.
ā¢ Increased social cohesion- entrepreneurship can help to achieve social cohesion in a country.
24. SOCIAL ENTERPRISE
ā¢ Social enterprise is a proper business that makes its money in socially
responsible ways and uses most of any surplus made to benefit society.
ā¢ Use business principles to achieve social objectives.
Most social enterprises have these common features:
ā¢ They directly produce goods or provide services
ā¢ They have social aims and use ethical ways of achieving them
ā¢ They need to make a surplus or profit to survive as they cannot rely
on donations as charities do.
25. SOCIAL ENTERPRISE - OBJECTIVES
Economic ā make a profit to reinvest back into the business and provide
some return to owners
Social ā provide jobs or support for local, often disadvantaged, communities
Environmental ā to protect the environment and to manage the business in
and environmentally sustainable way.
This is called the triple bottom line
This means that profit is not the main objective
26. ECONOMIC ACTIVITY AND THE PROBLEM OF
CHOICE
ā¢ Poor people are unable to obtain the very basic requirements of life and have
many unsatisfied needs and wants.
ā¢ Not all rich people can afford to satisfy their wants for luxury goods and services.
ā¢ There are insufficient goods to satisfy all of our needs and wants at any time.
ā¢ It is the purpose of economic activity to provide for as many of our wants as
possible.
ā¢ This need to choose is not exclusive to people as consumers.
ā¢ All economic units have to make choices- governments, businesses, workers,
charities, etc.
27. OPPORTUNITY COST
ā¢ In deciding to purchase or obtain one item, we must give up
other goods as they cannot all be purchased.
ā¢ The benefit of the next most desired option which is given
up